STATE OWNED ENTERPRISES RELATED FISCAL MANAGEMENT PROJECT (WB-P160796)

Regions
  • Africa
Where the impacts of the investment may be experienced.
Countries
  • Cape Verde
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 4, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Ministry of Finance
The holder of the loan, grant, or other investment.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Feb 27, 2019

Disclosed by Bank Oct 20, 2016


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Project Description

According to WB website, the objective of this project is to strengthen SOE related fiscal management. There are three components to the project:

1. Component 1. Results-based financing. This component aims to support some critical reforms in TACV that are needed to improve performance and prepare the company for privatization and thereby eliminate its needs for public financing for its operations. This component includes two subcomponents: fiscal risk assessment and monitoring, and TACV restructuring and reduced public financing.

2. Component 2. Technical Assistance. This component will provide technical support for the implementation of the Government SOE reform program and to strengthen the overall capacity of the MoFP for macro-fiscal monitoring and SOE oversight and monitoring. It aims to strengthen the GoCV’s capacity as an active and informed owner of SOEs, including its ability to independently analyze and assess SOE activities, operational and financial performance, business plans, audits, and to prepare comprehensive and in-depth analytical reports on the SOE portfolio under its purview and ability to increase private sector participation in SOEs. 

3. Component 3. Project Management Support. This flexible component will support project management and implementation needs including the financing of the project coordination, procurement, financial management, audit, legal and monitoring and evaluation (M&E) (independent verification agent). It will also finance some activities that are not included or anticipated in the original design of the project, but are necessary elements as the project unfolds.

Investment Description
  • World Bank (WB)
Contact Information
 

Team Leader: Kjetil Hansen

Sr. Public Sector Specialist, World Bank

Contact No.: 202-458-4871

Email Address: khansen1@worldbank.org

 

Implementing Agency: Unidade de Acompanhanmento do Sector Empresarial do Estado (UASE)

Contact Person: Margarida Mascarenhas, Director

Email Address: margarida.mascarenha@minfin.gov.cv


ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.